Distressed Debt Dry Powder Yet to Ignite
Bankruptcy and Creditors' Rights Practice Group Leader John Monaghan was quoted in the LeveragedFinanceNews.com article, "Distressed Debt Dry Powder Yet to Ignite" published on June 11, 2009.
The article cites Mr. Monaghan's speaking panel at the 19th Annual High Yield Bond Conference on June 10. "There's a lot of dry powder, and no one to shoot at," he said, explaining the slow execution of investors despite the high amount of interest in distressed debt. He also said that there is a lack of distressed debt investors because they fear more defaults and bankruptcy spikes in the near future.